Australian fashion Forever New
Forever New - which aims to roll out 20 stores by mid-2007 - is the creation of manufacturers Dipendra and Amanda Goenka and is 50 per cent owned by fashion entrepreneur Tom Singh, the founder and director of New Look, the UK's third largest women's fashion chain.
Forever New managing director Amanda Goenka said the label - which is vertically integrated and produced from factories in China and India - would be "unique within the Australian market".
"We can turn fashion around faster than anyone and I don't think anyone [in Australia] beats us in terms of speed to market and price.
"The process from design room to shop floor can take as little as 14 days, which also allows us to respond quickly to customer needs. New styles are introduced every week, which means that customers will enjoy shopping at our stores frequently."
Despite a value price point positioned just below that of Sportsgirl and The Just Group's Portmans chain, Forever New was differentiated by high quality fabrics including silk georgettes and silk satins, the majority of them dyed or printed with exclusive designs in-house.
Inspired by celebrity fashion and aimed at 16 to 26-year-old women - a slightly younger customer to New Look - the label aimed to project a "very glamorous image" through its high-design retail outlets.
Forever New stores opened last month at Southland and Broadmeadows in Melbourne and Liverpool and Parramatta in Sydney; with a further three - including one at renowned Melbourne centre Chadstone - set to open by year end.
Stores featured modern fixtures, spacious layouts and light colours, while bold graphics and lighting effects would reflect the celebrity inspired theming.
Forever New is also the exclusive Australian licensee for UK girl's fashion brand Lipsy - sold through leading UK fashion retailers including Top Shop and released to the Australian market late last month.
Forever New's youth fashion offer would add further diversity to young women's fashion, Goenka said.
"Sportsgirl has 100 stores so we're a relatively small player but we're confident we can add something a bit different to the market."